Valley Ridge
Multifamily property in Rossville, GA — sponsored by Capital Square
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
Valley Ridge is a Delaware Statutory Trust (DST) — a passive co-ownership vehicle that qualifies for 1031 exchange treatment — sponsored by Capital Square and holding a build-for-rent single-family rental community in Rossville, Georgia, inside the Chattanooga metropolitan area.1 The Form D reached the SEC on October 1, 2024, and Capital Square announced the offering fully subscribed on December 18, 2024.2
Minimum investment
$50k
Offering size
$20.3M
How much has sold
None sold yet
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The community sits at 10 Draught St. in Rossville, Georgia, just across the state line from Chattanooga, Tennessee.3 Homebuilder D.R. Horton developed it and finished construction in 2023; Capital Square acquired it on the Trust's behalf in October 2024.3 Capital Square reported 90% physical occupancy as of September 2024, with onsite professional management and 24-hour emergency maintenance.3
- Reported location
- Rossville, GA
- Property size
- 129 units (build-for-rent / single-family rental community; mix of 3-, 4-, and 5-bedroom homes)
Who is the tenant, and what's the lease?
Capital Square's offering disclosure says beneficial owners must rely on a master tenant to collect rent and to operate, manage, lease and maintain the property — the master-lease arrangement common to DSTs — and the reviewed materials neither name that tenant nor state the lease term.1
How did it end?
Still operating
No full-cycle or disposition found; Capital Square's Valley Ridge offering page remains live describing the 129-unit build-for-rent community in Rossville, GA, and Capital Square Living continues to operate/lease it — the trust is not named in Capital Square's Feb 2026 '10 DSTs taken full-cycle in 2025' announcement.
$20M raise target; DST filed Oct. 1, 2024; fully subscribed by Dec. 18, 2024; 129-unit BFR community with 3-, 4-, and 5-bedroom homes.
129 units (build-for-rent / single-family rental community; mix of 3-, 4-, and 5-bedroom homes)Supporting evidence
Counted on Capital Square’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
Neither the Form D nor the sponsor materials reviewed state whether the Trust carries mortgage debt or, if so, on what terms. Those details, along with the lender's identity, would appear in the private placement memorandum (PPM), the offering's full legal disclosure document.
Who's behind it?
The sponsor is Capital Square Realty Advisors, LLC, which assembles real estate into DSTs sold to accredited investors — buyers who meet SEC income or net-worth tests. It bought Valley Ridge for this Trust in October 2024 and raised the equity through a Regulation D private placement.3 On December 18, 2024, the firm announced the offering had been fully subscribed, describing the pace as a record for its DST program.2
- Sponsor
- Capital Square
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 28 total offerings from Capital Square
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
A Form D — the short notice an issuer files with the SEC when it sells securities without registering them — opened this Trust's public record, and no amendments have followed. It was offered under the exemption that lets a sponsor market publicly so long as it verifies that every buyer is accredited.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- CS1031 Valley Ridge BFR Housing, DST
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
What happened to Valley Ridge?
Valley Ridge is a Historical offering: its latest SEC filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for Valley Ridge?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in Valley Ridge?
No. Capital Square announced on December 18, 2024 that the CS1031 Valley Ridge BFR Housing, DST offering was fully subscribed, which means the Trust is closed to new investors.[2] Interests in a closed DST are not traded on any exchange, so there is no public secondary market to buy into.
Where exactly is the property?
Valley Ridge is at 10 Draught St. in Rossville, Georgia, immediately south of the Tennessee border and within the Chattanooga metropolitan statistical area.[3] It is a build-for-rent community — detached rental homes built as a single professionally managed rental property rather than sold off individually — developed by D.R. Horton and completed in 2023.[3]
What was the minimum investment?
The Form D filed October 1, 2024 reported a $50,000 minimum outside investment for the offering, consistent with Capital Square's own description of the private placement.[3] Sponsors sometimes apply different minimums to 1031 exchange investors versus cash investors; the PPM controls.
Does this Trust plan a 721/UPREIT exit?
Nothing in the filings or sponsor materials reviewed indicates a planned 721 exchange — the structure in which a DST's property is contributed to a real estate investment trust in return for operating partnership units instead of being sold for cash. The record shows an ordinary property-level hold with no REIT conversion described.
Has the Trust sold the property or reported a final result?
No outcome has been reported. As of the most recent review on September 4, 2026, Valley Ridge was described as still operating, with no full-cycle disposition, refinancing, or distress event identified in public records.[4]
Who operates the homes day to day?
Capital Square described the community as having onsite professional management and 24-hour emergency maintenance at acquisition.[3] Under the DST structure, investors hold passive beneficial interests: a master tenant leases the property and handles leasing, collections, and upkeep, so investors make no operating decisions.[1]
Chapter 9Capital Square Fully Subscribes DST Build-for-Rent Offering Near ChattanoogaTrade-press coverage confirming full subscription of the Capital Square DST BFR offering near Chattanooga. Capital Square Acquires Georgia Build-For-Rent Community Near Chattanooga, Tennessee for DST OfferingSponsor press release announcing the launch of CS1031 Valley Ridge BFR Housing, DST and acquisition of the 129-unit BFR community in Rossville, GA. Capital Square Seeks to Raise $20 Million From Investors With BFR Purchase Near ChattanoogaAltsWire trade-press coverage of Capital Square's acquisition and DST launch of CS1031 Valley Ridge BFR Housing, a 129-unit build-for-rent community near Chattanooga, TN targeting a $20.25 million equity raise.